Will not aggressively buy in equities: LIC

Thursday, December 07, 2017

Life Insurance Corporation of India (LIC) has said it has invested Rs 44,000 crore in the equity markets between Apr-Nov this year, a rise of 52% over the year-ago period.

It had invested around Rs 29,000 cr in Apr-Nov period in the previous fiscal. In the first half of the current fiscal, the life insurance major had more than doubled its investment in equities to Rs 39,224 cr from Rs 18,000 cr in the same period last fiscal.

"This year the government's disinvestment program has picked up in the first half and, we, being the long term investor have invested there," said V K Sharma, Chairman, LIC on Tuesday at the announcement of half-yearly financial results in Mumbai. In the previous fiscal, LIC had invested Rs 47,000 crore into equities. Sharma, however, said in the rest of the fiscal, LIC will not be an aggressive buyer of equities.

For the six months ended Sept, LIC's first year premium grew 24% to Rs 68,224.29 cr. Total premium income grew 12% to Rs 1,48,037 cr in the Apr-Sept period as against Rs 1,32,257 cr collected during the corresponding period last year.

It's gross total income registered a growth of 13% at Rs 2,50,267 crore in the first half as compared to Rs 2,22,350 cr in the year-ago period. Total assets stood at Rs 27,25,808 cr as compared to Rs 23,90,056 cr for the corresponding period last year, a growth of over 14.04%.

Aries (Mar 21 - Apr 20)You are likely to remain careful and watchful today, foretells Ganesha. And because you'll be invited to parties and other social events, your enthusiasm will remain buoyant. You will also strike the right balance between business and pleasure, says Ganesha.